I bought a small two bedroom one year ago. It needs a full renovation which I have been saving up for. The second bedroom is more an office. It is tiny. I also barley use the living room as I have been used to living in a flat share before where my bedroom was my dining room and my office as well as my bedroom. I eat dinner in bed every night.
My mortgage is fairly inexpensive. I am paying the same amount as I did in a flat share before including electricity and bills - about £600. With bills about to rise I am concerned about costs going up.
I am thinking of asking my long term boyfriend to move in with me. He lives in a flat share and his costs are about £600 per month too but with bills rising it is going to surpass this for sure.
We have been together five years and lived together for the first three years. We moved away due to my anxiety and insomnia - I just needed my own space and we couldn't afford to rent a two bed. I really enjoy living alone right now but I am worried about bills rising. The £600 cost I think could become £800 as I barley use any electricity right now but I will need the heating on in the winter. It's not that I cant afford it, but money will be really tight. My income before tax is £28k.
If my flat were to be rented on the rental market it would go for £1100 excluding bills.
I want to offer the living room to my partner which is a reasonable sized bedroom that is currently empty - we would need to get a bed. It has the nicest view.
If he moved in and split everything 50:50 - costs would be about £350 each including bills. Is this the fairest way to charge him? For him to live in this flat as a renter it would cost him £550 plus bills.
is there also anything I should watch out for? I trust him but want to protect myself